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An effective business plan inspires action, whether from you or a potential investor. Some business owners don't realize the true value of a logical, reasonable and actionable plan. Don't create the plan simply because it's another item to check off your list—craft it so that you can use it as a tool and guideline for a successful company.

1.

Focus heavily on the marketing and projected financial performance components of your plan. These two sections are very important to many potential investors—they want to know that you have an in-demand product, a clearly defined profile of your customers and financial projections that indicate increasing profits over time.

2.

Include thorough information about your management team in your business plan, including resumes, experience and any beneficial connections that your team has within the industry. Many business investors and lenders look for senior members with years of experience when deciding to support a company.

3.

Gather research on all pertinent elements of your proposal and include references to them in your plan. That includes your competitive analysis, SWOT (strengths, weaknesses, opportunities, and threats), marketing focus and financial projections. Cite case studies from similar types of businesses and statistics that support your assertions.

4.

Add realistic, specific and measurable information about your vision for the business. For instance, define your expected business growth over for the next year, three years and five years.

5.

Format the plan in a logical order that is simple to follow. Think of this as an opportunity to tell a story about your business idea with a beginning (summary and information about the need you plan to meet), middle (how you will go about meeting the need) and end (the projected results of your efforts).

6.

Add product samples or online demos to your plan to support the description of your product or service and bring your concept to life.

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About the Author

Louise Balle has been writing Web articles since 2004, covering everything from business promotion to topics on beauty. Her work can be found on various websites. She has a small-business background and experience as a layout and graphics designer for Web and book projects.